Enigma Signal is a fully automated “algorithmic” trading software designed to be auto-traded with Ninja Trader Brokerage. The company marketing materials claim, “achieve financial freedom in only 15 minutes each day.” They claim to have developed a trading system using artificial intelligence and ‘swarm technology.’
The company claims that they can predict the future on any time, infinitely into the future. And with any tradable security.
The individuals marketing this software appear to be outrageous scoundrels with a long and sad history of selling all manner of investment educational products and services.
The owner of the company and all of the persons selling this product have no verifiable record of ever trading successfully. Nor were they willing or able to produce any proof of prior success.
A multitude of red flags including a fake hedge fund and prior regulatory sanctions involving the CFTC within the binary options industry.
User Review( votes)
Thanks for reading today’s review of Enigma Signal. What is Enigma Signal? Enigma Signal is an automated algorithm trading software built to work with NinjaTrader and Sierra Chart.
The software claims to be able to predict the futures of all financial markets through its supposedly trademarked “Swarm Artificial Intelligence Technology.”
The software claims to work on any and all time frames, as well as any liquid market. The company claims that once you open your NinjaTrader brokerage account, you simply turn the software on and it will essentially ‘solve all of your money problems.’
In fact, the marketing material claims “achieve financial freedom in only 15 minutes each day.”
The company is offering the following products and services:
- 30-day trial of Enigma Signal $99
- 90-day membership $1,495
- 1-year membership $4,995
- Lifetime membership $9,995
Enigma Signal appears to be using various web promotions including several seminars hosted at Online Trader Central.
Who owns Enigma Signal?
According to recordings of the seminar, and a great deal of web snooping, there appear to be three main characters.
The developer of the company appears to be a person named Mark Sear. You can view his LinkedIn profile through the following link: Mark Sear
The resume and profile page of Mark Sear appears to be quite impressive. Going back the past 15 years, he has worked at various high-value companies in big data, related projects. If all of this is true, then it would appear that Mark would be a good candidate to develop an interesting software product.
As impressive as Mark’s resume appears, his sales and promotional affiliations are extremely sketchy.
For instance, during the month of August 2018, I reached out to Enigma Signal with specific questions regarding a possible review. What I discovered next should cause great concern.
All of my UK based email inquiries were answered by a person named Isaac Tekeste. When I read this name, a big red flag went up. In the past 4 years of writing reviews about trading products, you begin to notice the same names reappearing over and over again. Except that the company and the products being sold are entirely different. Lets take a closer look:
The first of several complaints that I have fielded regarding Isaac Tekeste is from a UK based Forex educational company named Phoenix Trading Academy. Isaac and his two cohorts have quite a wonderful story to tell, in hopes that you will give them $20,000 for an “Elite Forex Trading Educational Program.” You can find this supposedly elite program on his website.
Isaac Tekeste has ordained himself with the grandest of titles, “The Forex King.”
Isaac also claims to be a “wealth creation strategist” and a full-time professional Forex trader that has earned millions of dollars in the Forex markets.
In addition, Isaac claims to be the founder of a hedge fund named Alchemy Zurich. However, there is no listing for any fund named Alchemy Zurich in the US, UK, or Switzerland. This appears to be a figment of his imagination.
I find it only too ironic that the name of his supposed hedge fund contains the word ‘Alchemy’ which literally was a fraudulent science that took root during the dark ages. Alchemist claimed to be able to turn base metals into gold with magical spells, potions, incantations, and animal urine.
Truth be told, I have lost count of all of the whack-a-doodle investment quakery that Isaac Tekeste has been involved. At one time, he had something called CityTa Forex Mastery where he traveled throughout Africa with his bottles of snake oil forex whack-a-doodle.
At another time, that is forever recorded in the annals of investment genius, he had some sort of company named The Wealth Institute. Yet another delivery van full of only the finest snake oil investments haberdashery.
I can continue for some time, but you should be getting the point.
Does Isaac Tekeste have any sort of track record that verifies any of his supposed trading success? Absolutely not. In fact, over a two week period, during the month of August 2018, we peppered him with anonymous emails requesting his personal trading performance. He refused.
Is he trading the magical trading system, the Enigma Signal? Who in the heck knows. We asked many times for verifiable performance, he refused every request. Instead, he responded with some lame huff-n-puff story about being the manager of his galactic sized hedge fund and he could not reveal his personal performance. But he assured me that some of the top hedge funds in the world are currently managing billions of dollars each and every day using the magical trading software.
Toward the end of my conversations with Isaac, he assured me that “nearly 100% of customers pay for their $10,000 software fee with trading profits, in only a few short months.”
Ok, Isaac. Whatever you say.
Abraham ‘Abe’ Cofnas
In the United States, another character named Abe Cofnas handles the sales and operates the live trading room during the US market hours.
Wow, I don’t even know where to start with Abe Cofnas. He used to be the head trader and senior market analyst for an Israeli based company named Banc De Binary.
Banc De Binary turned out to be a massive binary options investment scam that ripped off customers the world over. On March 9, 2016 the CFTC and a judge in Nevada ordered Banc De Binary to pay an incredible $9,000,000 in restitution to ripped off United States investors.
The Banc De Binary fraud was incredibly massive and relied upon companies that touted supposedly winning binary options trading signals, like Binary Dimensions, a company owned and operated by Abe Cofnas.
How long has Abe Cofnas been husting Forex and Binary options snake oil? This is a question that I cannot answer. However, only a cursory search of Abe Cofnas phone number turns up an army of ‘trading educational’ websites where Abe Cofnas will supposedly help you get rich in the Forex markets.
This guy is so dirty that he even worked at Market Traders Institute as a so-called investments mentor. Everything you ever wanted to know about Market Traders Institute can be found here. The characters running Market Traders Institute were involved in a massive Ponzi scheme in South Florida.
I could write a tome on just Abe Cofnas. This guy is so oily that it makes snakes blush.
Wrapping things up
When I write these reviews, I take a big picture overview of not only the product but the people involved with the company. When I see the same ‘shady’ names reappear over and over again, I get worried.
Issac Tekeste and Abe Cofnas are a couple of investment charlatans that I would avoid like a port-a-potty at a music festival. It just smells terrible and the things you find are just gross.
The only thing that doesn’t make sense is Mark Sear. He just doesn’t fit squarely with the characters selling his product. His resume and non-trading affiliations are legitimate. Maybe when Mark reads this review, he will take his ‘investment software’ affiliations into reconsideration.
And perhaps Mark Sear will actually open a trading account and ‘eat his own cooking.’ As it currently stands, it appears that Mark Sear cooked up this magical trading software and is relying upon long time hustlers to sell it.
Thanks for reading.